Wichita-based Koch Industries is quickly becoming a major backer of the nation’s battery industry with $750 million in investments over the past 18 months.
Just do a Google check of Koch and battery development and you’ll see where the company announced last October of its partnership with the Norway-based company FREYR to specialize in development of next-generation battery production hubs.
Jeremy Bezdek, managing director of Koch Strategic Platforms said a the time that the 50-50 joint venture with FREYR could result in gigafactories with an initial production capacity of 50 gigawatt-hours a year by 2030.
A month after the FREYR announcement, Koch Strategic Platforms announced a $100 million investment into lithium developer Standard Lithium.
The deal would push Koch toward the first commercial production of lithium from brine deposits in south Arkansas. As a result, it would also boost Koch’s development of US production of the battery raw material.
Koch also had made investments in lithium battery recycler Li-Cycle and zinc battery startup Eos Energy. Now the company is considered to be one of the biggest financial supporters of the battery industry.
The Wall Street Journal reports Koch has now made at least 10 investments totaling $750 million in the nation’s battery supply chain and electric vehicles over the past 18 months. The newspaper’s conclusion is based on regulatory filings, news releases and FactSet data.